Written by Cláudio Afonso | LinkedIn | X
Electric vehicle startup Faraday Future said Monday it will unveil its sub-brand on September 19 alongside the “China-U.S. Automotive Bridge Strategy”.
The company added it will “provide more details and an execution plan for the strategy” at the event while saying that the sub-brand will “potentially accelerate” the mass-market entry while maintaining its “ultra-luxury” segment with the main brand.
In a statement, the California-based startup said that the Bridge Strategy is “part of its dual-home-market strategy” revealing that received positive feedback after meeting with Chinese OEMs and global suppliers — without unveiling any example.
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“FF expects to leverage its unique bridge value to integrate the strengths of the U.S. automotive industry with those of Chinese original equipment manufacturers (OEMs) and parts suppliers and their respective supply chains, focusing on the $20,000 to $80,000 price segment,” the brand said in a statement.
Last Friday, the company executed the recently approved reverse stock split at the maximum ratio of 1 for 40 and the shares will open on Monday with the adjusted price of $5.13.
As of the time of writing, the stock is trading 17% lower at $0.139 per share during the pre-market trading session.
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Written by Cláudio Afonso | LinkedIn | X
